PRODUCTS & SERVICES
USD draft clearing / FAQ
Day 1 - Customer deposits the USD Cheque/draft
Day 2 - Bank Branch sends relevant data and cheques/dfrafts for clearing through their Central Clearing Department.
Day 3 - Net figures sent to Settlement Bank to update the accounts
Day 4 - Beneficiary account gets credited
Bank of Ceylon
Standard Chartered Bank
Muslim Commercial Bank
National Development Bank
Nations Trust Bank
Hongkong & Shanghai Bank
Hatton National Bank
Pan Asia Bank
Union Bank of Colombo
USD Clearing is a process of clearing USD drafts drawn on a Sri Lankan Commercial Bank and releasing funds to the beneficiary.
- USD cheques/drafts issued by commercial banks in Sri Lanka payable to Sri Lankan individuals and institutions.
- USD cheques issued by Banks or exchange Houses abroad drawn on commercial banks in Sri Lanka.
- Each Participating Bank will be assigned one seat for the US Dollar Clearing
- A representative from each Participating Bank will meet at 12.15 p.m at the LankaClear Head Office on each working day
- The US Dollar cheques/drafts (Outward clearing) will be exchanged among the representatives of the Participating banks and the net value to be debited/credited will be agreed upon.
- The dishonored cheques/drafts will be handled at the USD Settlement Clearing the following working day immediately after the Outward Clearing of the US Dollar cheques/drafts and the net value to be debited/credited will be agreed upon.
|01||Submission of USD draft data via digitally signed email||12.00 p.m.||Collecting Bank|
|02||Submission of sealed envelopes containing USD drafts to counter||12.15 p.m.||Collecting Bank|
|03||Send USD clearing reports to Banks via digitally signed email||12.30 p.m. onwards||LCPL|
|04||Collection of sealed envelopes containing USD drafts||12.30 p.m. onwards||Paying Bank|
|05||Collection of "US Dollar Clearing - Instruction to Settlement Bank Report"||02.00 p.m.||Settlement Bank|
All Commercial banks operating in Sri Lanka